Powell was nominated by Trump in November 2017 and was confirmed by the Senate in January 2018. The Fed chair’s term lasts four years, and Biden did indeed nominate Powell for a second term, though Trump tries to make it sound like he had nothing to do with Powell’s first appointment.

President Trump on Wednesday told reporters that Jerome Powell’s handling of a $2.5 billion renovation of the Federal Reserve headquarters 'sort of is' a fireable offense, raising new questions about whether he may seek to oust the central bank boss.